Hemenway Trust Co LLC Invests $213,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Hemenway Trust Co LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,300 shares of the oil and gas producer’s stock, valued at approximately $213,000.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after buying an additional 2,155,640 shares during the period. Deutsche Bank AG grew its position in Enterprise Products Partners by 2.6% during the third quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock valued at $133,678,000 after buying an additional 125,450 shares during the period. Westwood Holdings Group Inc. grew its position in Enterprise Products Partners by 2.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,686,444 shares of the oil and gas producer’s stock valued at $123,488,000 after buying an additional 109,712 shares during the period. Stifel Financial Corp grew its position in Enterprise Products Partners by 0.5% during the fourth quarter. Stifel Financial Corp now owns 3,353,572 shares of the oil and gas producer’s stock valued at $88,367,000 after buying an additional 16,641 shares during the period. Finally, Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners by 2.2% during the first quarter. Miller Howard Investments Inc. NY now owns 3,220,815 shares of the oil and gas producer’s stock valued at $93,983,000 after buying an additional 69,396 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

EPD traded up $0.02 during trading hours on Thursday, hitting $29.18. The company’s stock had a trading volume of 3,157,321 shares, compared to its average volume of 4,390,129. The business’s 50-day moving average price is $28.60 and its 200-day moving average price is $28.06. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $29.99. The stock has a market cap of $63.37 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. Enterprise Products Partners’s payout ratio is 80.78%.

Wall Street Analyst Weigh In

EPD has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.